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2012 (11) TMI 905 - AT - Income TaxTaxability of retention money - assessee contended that same cannot be treated as Revenue since retention money has not accrued to the assessee and same shall be realized only on satisfactory completion of the contract - Held that:- It is undisputed that assessee has not received any money out of the amount retained as retention money by the contractee, Therefore, CIT(A) was justified in holding that monies retained by the principal as per provisions of contracts as “retention money” can not be included in the total income - Decided against Revenue
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